JUST IN: NNPC Declares State of Emergency on Oil Production

The Nigerian National Petroleum Company Limited (NNPCL) has declared a state of emergency on oil production in a bold move aimed at increasing Nigeria’s crude oil output and expanding its reserves.

Mele Kyari, the Group Chief Executive Officer of NNPCL, made this announcement during his keynote address at the opening of the 23rd Nigeria Oil and Gas Conference and Exhibition Week in Abuja on Tuesday.

“We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation,” Kyari stated emphatically.

Kyari revealed that a detailed analysis of the country’s oil assets indicates that Nigeria can produce two million barrels of crude oil per day without the need for new rigs. However, he pointed out that the major hindrance to achieving this target has been the slow response from industry players.

He emphasized that this “war” declaration is aimed at overcoming the obstacles that have hampered effective and efficient production. Specifically, Kyari highlighted the delays in procurement processes as a significant challenge that needs to be addressed urgently.

More to follow….